High street fashion chain Next is set to hit shoppers with a second price hike after announcing a profit drop.

The fashion and homewares giant, which has two stores in Cambridge city centre as well as several others in the region, warned prices would rise at least 4% on it autumn and winter ranges, on top of a 4% increase earlier this year.

The blow for customers was blamed on the weak pound pushing up import costs, and came as Next revealed its first annual fall in profits for eight years - down 3.8% to £790m.

A 9.6% rise in profits at its online and catalogue arm, Next Directory, couldn't mask a near 16% slump in earning from stores, where sales fell 2.9%.